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Marketing ethics – another business-oriented scheme?

Author

Listed:
  • Raluca Iuliana GEORGESCU

    (B & Associates, Romania)

  • Dumitru Alexandru BODISLAV

    (InfinitumR, Romania Bucharest University of Economic Studies, Romania)

Abstract

Marketing ethics is crucial for defining the link between businesses and consumers, impacting both economic transactions and society values. Ethical marketing underlines the utilization of ethical principles and standards to every element of the marketing process, including product development, advertising, and customer relations. This study looks at the intricate relationship between marketing ethics and how they could be used by companies to manipulate others. While following moral guidelines and standards has always been a requirement of marketing ethics, there is rising worry that companies are abusing this concept to influence consumer behaviour and views in order to benefit financially. This essay explores the delicate line that separates ethical manipulation from valid persuasion as it dives into the ethical issues that underpin marketing methods. It examines numerous strategies used by companies to violate marketing ethics, including misleading advertising, psychological pricing, and manipulation of social media algorithms, through an extensive analysis of case studies and literature. In addition, this study explores the cognitive biases and psychological mechanisms that marketers use to sway consumer decisions, providing insight into the moral ramifications of these tactics. Furthermore, it delves into the function of regulatory frameworks and corporate social responsibility endeavours in curbing unscrupulous marketing techniques and encouraging increased openness and responsibility in the sector. This paper aims to provide insights into the ethical challenges faced by businesses in navigating the modern marketing landscape and makes recommendations for fostering a more ethical and responsible approach to marketing practices by critically examining the duality of marketing ethics as both a guiding principle and a potential manipulation scheme.

Suggested Citation

  • Raluca Iuliana GEORGESCU & Dumitru Alexandru BODISLAV, 2024. "Marketing ethics – another business-oriented scheme?," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(638), S), pages 105-114, Spring.
    • Handle: RePEc:agr:journl:v:1(638):y:2024:i:1(638):p:105-114
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    References listed on IDEAS

    as
    1. Alexandru BODISLAV, 2011. "The Birth of the Regulated Company in the Macroeconomic Environment," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(6(559)), pages 129-140, June.
    2. Raluca Iuliana GEORGESCU, 2023. "Modern leadership in business organisations during economic disruption," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(635), S), pages 73-82, Summer.
    3. Dumitru Alexandru BODISLAV & Raluca Iuliana GEORGESCU & Ionuț-Valeriu ANDREI & Dan Cezar OSICEANU, 2023. "Modern leadership communication and strategic lobbying," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(636), A), pages 219-230, Autumn.
    4. Dumitru Alexandru BODISLAV & Raluca Iuliana GEORGESCU, 2023. "A sustainable and resilient socio-economic paradigm through corporate governance intervention," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(4(637), W), pages 77-82, Winter.
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